Transcend Wealth Collective LLC purchased a new position in Oracle Co. (NYSE:ORCL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 32,968 shares of the enterprise software provider’s stock, valued at approximately $1,747,000.
A number of other institutional investors and hedge funds have also made changes to their positions in ORCL. ERTS Wealth Advisors LLC purchased a new position in shares of Oracle during the 4th quarter valued at approximately $36,000. Equitable Holdings Inc. acquired a new position in Oracle in the 4th quarter valued at $236,000. Riverpoint Wealth Management Holdings LLC raised its stake in Oracle by 13.8% in the 4th quarter. Riverpoint Wealth Management Holdings LLC now owns 8,110 shares of the enterprise software provider’s stock valued at $430,000 after purchasing an additional 986 shares during the last quarter. Profund Advisors LLC increased its stake in shares of Oracle by 17.9% in the 4th quarter. Profund Advisors LLC now owns 55,280 shares of the enterprise software provider’s stock worth $2,929,000 after acquiring an additional 8,391 shares during the last quarter. Finally, Fort Pitt Capital Group LLC increased its stake in shares of Oracle by 2.1% in the 4th quarter. Fort Pitt Capital Group LLC now owns 99,821 shares of the enterprise software provider’s stock worth $5,289,000 after acquiring an additional 2,013 shares during the last quarter. Institutional investors own 51.90% of the company’s stock.
Oracle stock traded up $4.54 during midday trading on Thursday, reaching $50.48. 22,417,252 shares of the stock traded hands, compared to its average volume of 14,198,283. The company has a 50-day simple moving average of $50.44 and a two-hundred day simple moving average of $53.59. Oracle Co. has a 12-month low of $39.71 and a 12-month high of $60.50. The firm has a market cap of $150.87 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 1.41 and a beta of 1.07. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 3.31.
Oracle (NYSE:ORCL) last announced its earnings results on Thursday, March 12th. The enterprise software provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Oracle had a return on equity of 64.68% and a net margin of 27.06%. The company had revenue of $9.80 billion during the quarter, compared to analysts’ expectations of $9.75 billion. During the same period last year, the business posted $0.87 EPS. Oracle’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities research analysts anticipate that Oracle Co. will post 3.49 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 23rd. Investors of record on Thursday, April 9th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Wednesday, April 8th. Oracle’s dividend payout ratio (DPR) is 30.38%.
Oracle declared that its Board of Directors has initiated a stock repurchase plan on Thursday, March 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the enterprise software provider to buy up to 9.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
A number of analysts have issued reports on ORCL shares. Nomura reaffirmed a “sell” rating and issued a $41.00 target price (down from $42.00) on shares of Oracle in a research note on Sunday, December 15th. Evercore ISI reaffirmed a “hold” rating and issued a $55.00 target price on shares of Oracle in a research note on Sunday, December 15th. Wedbush reaffirmed a “neutral” rating and issued a $49.00 target price (down from $56.00) on shares of Oracle in a research note on Wednesday, March 11th. UBS Group cut their target price on Oracle from $57.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, March 13th. Finally, JPMorgan Chase & Co. raised Oracle from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $51.00 to $55.00 in a research note on Friday, March 20th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $52.81.
In other news, EVP Dorian Daley sold 50,000 shares of Oracle stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $55.01, for a total value of $2,750,500.00. Following the completion of the transaction, the executive vice president now owns 50,000 shares in the company, valued at approximately $2,750,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles W. Moorman acquired 10,000 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was bought at an average price of $45.23 per share, with a total value of $452,300.00. Following the purchase, the director now directly owns 18,561 shares in the company, valued at approximately $839,514.03. The disclosure for this purchase can be found here. Company insiders own 36.60% of the company’s stock.
Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service.
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